One 97 Communications Limited
HSBC Mutual Fund bought 170,497 shares of One 97 Communications for ₹26.17 Cr at ₹1535.10 apiece in a block deal. This transaction occurred amidst a larger block deal where approximately 1.92 crore shares of One 97 Communications, representing 2.95% of its total equity, were traded for ₹2,949 crore. This larger block deal is understood to be part of a proposed sale by Resilient Asset Management B.V., an entity associated with Paytm founder Vijay Shekhar Sharma, to sell up to 4.98% of its stake. The economic value from this sale will be retained by Antfin (Netherlands) Holding B.V. under an existing agreement.
A leading digital payments and financial services platform in India, One 97 Communications operates an integrated ecosystem serving both consumers and merchants across the country. The company provides payment solutions, financial services, and commerce platforms through its core digital offerings. Its distinctive strength lies in connecting a vast network of users and merchants, enabling transactions and financial inclusion across India's digital economy through a comprehensive suite of services.
Indian arm of HSBC Asset Management, the investment arm of HSBC Group with over USD 600 billion in global AUM. Manages over Rs 1 lakh crore in India across equity, debt and hybrid schemes. Previously known for integration of L&T Mutual Fund schemes after acquiring it from L&T Finance in 2022, which significantly expanded the franchise.